https://seekingalpha.com/news/3873185-compass-inc-unveils-cost-cutting-goal-after-issuing-soft-q3-2022-guidance How is everybody doing at Compass? TC:450 YoE:20 #compass #tech #layoffs
Omg, I did not get an offer from compass
I'm only slightly panicking... TC: worryingly high at a time like this
Are you staff level?
Yes
massive layoffs coming
Another 5-10% I heard
bigger
25 minimum
It is going to be close to 40%. I know a sr director there and yeah they think it could be even more unless people leave between now and end of September when they announce
Number does not add up!! We need to reduce $320M. 40% will do nothing. We have only 725 people in P&E in US
40% saves you at least $100 million a year.
Protip- do not join a company infested by Amazon leadership. They thought they knew what they were doing but turns out they don’t know how to manage a company without billions in their war chest.
Is it more of that or more of an ex investment banker, ex management consultant CEO/founder? At least Amazon has always been a true tech juggernaut.
The CEO is just a slick talker with no vision and doesn’t know how to run a company. As a result, he relinquished operations to all the Amazon lieutenants he hired so they do his dirty bidding while he burns company cash by partying with agents, bending over backwards. The company is not diversified in its revenue stream and with the pending reduction in US tech, this will only spell disaster as investors question why Compass exist compared to other major brokerage.
75% of engineering will be laid off. No more development is needed and all maintenance work will go to India Development Center (IDC)
Ya my buddy who works there said a lot of the new hires are gonna go in his team..
OMG I was about to accept an offer from them in March. Glad I didn't. Back then I had culture issues like hire to fire.
Same, I went to Meta instead of Compass back in August 21. Talk about dodging a bullet!
Stop humble bragging bruhs, this post is not about you.